Monday, May 4, 2009

Money Monday

I went to the bank today to cash in some bonds to put towards our debt.

While I was there I casually asked about money market rates because, by the end of summer, we want to start saving our 3-6 months of living expenses, and I've heard that money markets do much better than regular old savings accounts....like 3-4% better.

So, get this...Money markets are at .2%...No, that decimal point is not a typo. What the heck? That's also what my savings account is at.

I've heard the ING Direct (an online savings account option) is much better and very reputable. I think think they are FDIC insured as well.

But, all that to say...HOW ANNOYING? .2%?? That's a JOKE.

I guess in "this economy" (which I'm sick of hearing about btw) they want us to spend not save. That's really great considering NO ONE HAS ANY MONEY!

(Stepping down from my soap box!)

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